County of Santa Clara
Office of the County Assessor County Government Center, East Wing 70 West Hedding Street
San Jose, California 95110-1770 1-408-299-5500 FAX 1-408-297-9526 E-Mail: email@example.com Web Site: http://www.sccassessor.org/
Lawrence E. Stone, Assessor
For Immediate Release: February 6, 2009
David Ginsborg (408) 299-5572
Property Tax Relief Anticipated; Taxpayers urged to wait until review completed
Nearly 200,000 properties, half of the County, to be reviewed for possible temporary reductions in property taxes, says Assessor
In recognition of the steep decline in real property market values, Assessor Larry Stone announced earlier today that his office has begun to proactively review nearly 200,000 residential properties to determine if they are eligible for a temporary reduction in assessed values.
The Assessor’s Office plans to review all transactions which occurred since January 1, 2000, to determine if the market value as of January 1, 2009, has fallen below the original assessed value (typically the purchase price). “Obviously, not every community is the same. The value decline in Palo Alto and Los Altos is vastly different from the much steeper degree of decline in Gilroy, Morgan Hill, East San Jose or Milpitas. While we plan to review properties with transactions dating back to 2000, most reductions will probably reflect purchase transactions which occurred from 2005 to 2008,” said Assessor Stone.
While the review has begun, property owners are urged to wait until the Assessor’s Office completes the review in late June and sends notification cards to all 460,000 property owners. Santa Clara County is one of only nine California counties that notify property owners of their assessed value, before their tax bill arrives in mid September. When the Assessor reviews a property he must look to the market value as of January 1, 2009. Since few transactions occur exactly on January 1 (the lien date), the law allows the Assessor to consider transactions no more than 90 days after January 1. The best thing taxpayers can do now is become informed about the value of properties similar to their own in their neighborhoods. This information will be helpful if they choose to dispute the value on their notification card.
The Assessor also cautioned taxpayers to be wary of solicitations promising reduced assessed values in exchange for a fee. “It is outrageous. There's simply no reason for a property owner to pay a fee to a private company for a service taxpayers receive from the Assessor’s Office without charge. Property owners most likely eligible for an automatic reduction in their property’s assessed value are being inundated by these questionable operators who are feeding upon the increased fears of homeowners stressed by a declining real estate market and the loss of equity,” said Stone. By soliciting taxpayers before the Assessor’s notification card is mailed, these companies are encouraging homeowners to pay a fee to apply for a reduction in their assessment, that they are likely to receive automatically from the Assessor’s Office in late June. “My best advice on hiring someone to help you appeal your assessed
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